MANILA, Philippines—The Lopezes’ First Philec group plans to increase investments in the solar power industry, with the newly established First Philec Solar Solutions (FPSS) already exploring opportunities in solar installations here and abroad.
In a statement, First Philec said that the group was bullish on the solar industry, which has exhibited remarkable growth rates globally in the last decade.
Established in June last year, FPSS successfully completed its first commercial-scale solar photovoltaic installation in December 2010.
The first FPSS installation was at sister company First Philec Solar Corp. in Sto. Tomas, Batangas.
This installation now produces 75 kWp (kilowatt-peak) of electricity.
Last month, FPSS also signed a memorandum of understanding with another company for the construction of a solar power plant in Cavite.
The FPSS solar power plant was projected to deliver 2 megawatts of additional capacity, which can be increased to as much as 5 MW in the coming years.
The plan is to export power generated by the solar facility to the grid.
FPSS, which was put up as part of the Lopez group’s expanding interests in renewable energy and solar technology, said it was working closely with the government to lessen the country’s dependence on fossil fuels as energy source.
“High technology like solar power is seen by the government as the next step to promote independence on the energy source and to advance economic growth. FPSS’s vision is to become the leader in solar installations, not only in the Philippines but also in the region,” the company added.
In a statement, First Philec said that the group was bullish on the solar industry, which has exhibited remarkable growth rates globally in the last decade.
Established in June last year, FPSS successfully completed its first commercial-scale solar photovoltaic installation in December 2010.
The first FPSS installation was at sister company First Philec Solar Corp. in Sto. Tomas, Batangas.
This installation now produces 75 kWp (kilowatt-peak) of electricity.
Last month, FPSS also signed a memorandum of understanding with another company for the construction of a solar power plant in Cavite.
The FPSS solar power plant was projected to deliver 2 megawatts of additional capacity, which can be increased to as much as 5 MW in the coming years.
The plan is to export power generated by the solar facility to the grid.
FPSS, which was put up as part of the Lopez group’s expanding interests in renewable energy and solar technology, said it was working closely with the government to lessen the country’s dependence on fossil fuels as energy source.
“High technology like solar power is seen by the government as the next step to promote independence on the energy source and to advance economic growth. FPSS’s vision is to become the leader in solar installations, not only in the Philippines but also in the region,” the company added.
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